Financial Services

Hundreds of US retail banks to take plunge into Bitcoin trading: Banking tech provider FIS and crypto custodian NYDIG are teaming up with smaller incumbents to offer Bitcoin trading—enabling established banks to compete with challengers like Revolut and Venmo.

Pennyworth unveils beta app for “aspiring-affluent” users: The UK-based neobank, founded by Barclays alumni, is making a play for people who bring in more than £40,000 ($51,294.55) annually by offering both savings accounts and financial planning.

Wealthsimple has secured $559M in funding at a $3.7B valuation thanks to the success of its retail trading and new crypto and P2P money transfer products. The Canadian fintech should now roll out customized portfolio options to double down on growth.

Revolut to roll out Bitcoin withdrawals: The UK-based neobank will let its paid Metal users withdraw Bitcoin in amounts of up to £500 ($641.18) daily and £1,000 ($1,282.36) monthly, giving it a chance to bring in customers who appreciate the flexibility.

Virgin Money boosts UK SMB lending experience with partnership: The UK bank’s latest fintech team-up demonstrates a focus on pivoting to post-pandemic customer retention.

The pandemic not only altered consumers’ shopping behaviors, but it also changed how they pay for goods and services.